Patent & Technology Transfer
Technological knowledge has become a valuable asset for the business and academic worlds. Patents and technology transfer are important tools for protecting and sharing this asset.
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Patents
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A patent prevents others from creating, using or selling a specific invention. Governments grant patents to inventors and companies, which may be enforced within that government's jurisdiction, according to East Carolina University's website.
Technology Transfer
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Assignment of technological intellectual property from one entity to another is known as technology transfer. This is done through legal means, such as licensing and franchising.
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Federal Technology Transfer Act
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In 1986, the Federal Technology Transfer Act gave the responsibility of technology transfer to federal laboratory scientists and engineers. They are required to seek opportunities to transfer technology to government, academic and private-sector users.
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References
- Photo Credit technology image by Stanisa Martinovic from Fotolia.com
